Nine months after its own shareholders torpedoed a roughly $9bn takeover by CoreWeave, Core Scientific has found a far larger partner in the chipmaker trying to loosen Nvidia’s grip on artificial intelligence.
On Tuesday the former bitcoin miner said it had signed a data-centre agreement with AMD that could eventually reach 2.5 gigawatts of capacity across the American South, and investors treated it as vindication for the deal it had walked away from.
At the core of the arrangement is a set of long-term leases covering 529 megawatts of critical IT capacity, of which AMD has taken 377MW directly while a group of unnamed neocloud operators account for the remaining 152MW.
The sites sit in Pecos and Hunt County in Texas, Muskogee in Oklahoma, Auburn in Alabama, and Dalton in Georgia, and the leases run for 15 years with three five-year renewal options, so the relationship could stretch across three decades. Revenue is expected to start flowing in 2027.
What turns a sizeable colocation deal into a landmark one, at least as both companies framed it, is the option and equity bolted onto it.The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!
